Rally May Stall For Thai Stock Market

The Thai stock market has moved higher in two straight sessions, collecting more than 20 points or 1.3 percent along the way. The Stock Exchange of Thailand now rests just above the 1,580-point plateau although investors may cash in on Monday.

The global forecast for the Asian markets is slightly soft as disappointing U.S. jobs data may trigger profit taking after recent gains. The European and U.S. markets were down on Friday and the Asian bourses are tipped to follow suit.

The SET finished barely higher on Friday as gains from the financial shares were offset by weakness from the energy producers.

For the day, the index added 0.99 points or 0.06 percent to finish at 1,580.63 after trading between 1,573.80 and 1,584.16. Volume was 16.975 billion shares worth 52.033 billion baht. There were 811 decliners and 711 gainers, with 505 stocks finishing unchanged.

Among the actives, Advanced Info tumbled 1.83 percent, while Thailand Airport shed 0.34 percent, Asset World advanced 0.88 percent, Bangkok Expressway gained 0.90 percent, BTS Group skidded 1.47 percent, Charoen Pokphand Foods dropped 0.85 percent, Kasikornbank shed 0.72 percent, Krung Thai Bank climbed 1.24 percent, PTT sank 1.06 percent, PTT Exploration and Production lost 1.13 percent, PTT Global Chemical fell 0.42 percent, Siam Commercial Bank collected 0.44 percent, Siam Concrete added 0.54 percent, TMB Bank dipped 0.62 percent and Banpu, Bangkok Bank and Bangkok Dusit Medical were unchanged.

The lead from Wall Street is negative as stocks opened higher on Friday but headed south in the late morning and finished in the red, pulling back from record closing highs.

The major averages finished with mild losses as the Dow shed 133.13 points or 0.46 percent to 28,823.77, while the NASDAQ dipped 24.57 points or 0.27 percent to 9,178.86 and the S&P 500 fell 9.35 points or

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